By Todd Harrison Jun 24, 2003 11:22 am
If these levels hold, the pressers are gonna hugged!
- The S&P breadth, which was almost 2:1 positive earlier, has adopted a slightly negative posture.
- I'm almost at the weight/waist size crossover level. I can't decide if that's a good thing or a bad thing. I suppose it is what it is.
- THE (up) trendines from March lows are on a collision course with the (down) trendlines from the last four sessions. A resolution (either way) may offer insight as to whether this was a "healthy" consolidation or a change in trend.
- The brokers hold an early bid while Fannie Mae (FNM:NYSE) continues to come for sale.
- The porpoise is second to man as the most intelligent animal on the planet.
- Overtrading can turn nothing days into frustrating days. Assimilate your metrics and if they offer a compelling risk/reward, play it. If they don't, hand-sit.
- S's over N's.
- The S&P and SOX both filled their opening gaps are reversed (different direction).
- After four straight down downs, they had to test the downside IF (big if) there is to be upside.
- An apple, onion and potato all have the same taste. The differences in flavor are caused by the smell. To prove this, pinch your nose and take a bite from each. They will all taste sweet.
- The S's and N's are both sitting right on their trendline. If they break, is it all over? It's not good, per se, but please remember that they broke the (previous) uptrend in May and snapped back after the shorts piled in.
- Where did the "thick skin" shtick come from?
- I saw some pressing in the QQQ when we breached yesterday's low. The trendline support comes into play around NDX 1185ish.
- Minyan Poll: What are the five greatest rappers of all times (groups included)? Send your responses to Fokker@Minyanville.com and Greg RN will sort it out.
- PPH 80 and OSX 92 remain previous breakout levels (initial support).
- The burning question remains: Are all the bulls trapped long (and waiting for the end-of-quarter jam job) or will the trendline (once again) hold and take us to another higher high? If your risk profile is pure guesswork, think about your relative edge and/or stay very tight with your risk parameters.
- Brian has done some excellent work regarding corporates. If you haven't seen 'em, you're missing a big piece of the puzzle.
- Gold 350 was an important level on point & figure.
- The average human scalp has 100,000 hair follicles. I wonder if that factors in outliers like grandpa Neil?
- I've found that a lot of traders are former bartenders. (I know, Tommy, they're truck drivers too)
- While I'm a grizzly big-picture guy, I'm not pressing 'em here (I'm actually a little two-sided with tight stops both ways). Why? Uber-short-term oversold into the lower end of the channel. I wanna see how the beast reacts.
- Sag Harbor is (by far) my favorite town on the east end.
- I gotta sashimi lunch meeting today at noon.
- Remember to watch this BKX 855 level.
position in spx, fnm
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